The Ledger
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Foster: Remote Work Strips Away Superficial In-Office Management Illusions
“So I actually think that that when you're in a remote environment kind of strips away all of the like ornaments of being in an office where you kind of kid yourself that you're doing a good job at management where you're like, Oh, I see him sitting there. I sm…”
Foster: Zapier has grown profitably on customer revenue since 2012 $1M seed
“We did do a small round when we were first getting started, so we went through Y Combinator and then raised I mean, what today is a modest seed round, about a million dollars in September, twenty-twelve. But since then, we've grown profitably and on customer r…”
Foster: Zapier customers almost never churn to enterprise tools like MuleSoft
“And very rarely, I can't even think of a time when someone said, you know, I'm stopping using Zapier. I'm going to go start using something like a MuleSoft.”
Foster: Y Combinator continues to add value to Zapier at scale
“We went through YC, a big stakeholder for us, one of the larger stakeholders for us, and they continue to just provide a lot of useful value, even at the stage that we're at.”
Foster: Zapier has 60,000 paying customers
“The latest public numbers we've shared is 60,000 customers using Zapier.”
Foster: Zapier has over two million users on the platform
“We've got over two million users on the platform.”
Foster: Great SMB SaaS Companies Maintain 3% to 4% Monthly Churn
“Monthly is average for like a great small business. You're probably in like that three to four percent range.”
Foster: Zapier reached its massive scale using zero paid marketing
“So, today, no. We're getting ready to start experimenting with it, though.”
Foster: Zapier has broad Fortune 500 usage through bottoms-up adoption
“We do have customers across a Fortune 500 broadly, so we have lots of enterprise usage, but it's very much a bottom-up, bottoms-up product-driven sale.”
Foster: Zapier's average revenue per user exceeds $20 monthly
“Yeah, we've raised it quite a bit. So we're doing a little better than that, but in the ballpark.”
Foster: Users do not join Zapier for internal utilities, but retain for them
“Users don't come to Zapier for these things,
But they stick around for them, which are things like our filters, our formatter, our code steps, our delay steps, our scheduler, our email parser.”
Foster: Eight of Zapier's First Ten Employees Remain at the Company
“You know, of our first 10 employees, eight are still here.”
Foster: Zapier integrates with approximately 900 apps
“We hook into about 900 different apps and let people set up automations between them.”
Foster: Zapier operates as a 100% distributed team of 110 people
“So zap your day is about a 110 people. All across the world, we're a hundred percent distributed team, which is a bit unique.”
Foster: Zapier's primary LTV driver is users triggering their first Zap
“For us, it's like setting up a zap and having it like do its first thing. Like as soon as it does that first. Yeah. Fire once. It's like, oh my God, this thing is amazing. Right. But you know, if they don't get to that point, like if they trip up along the way…”
Foster: Effective SaaS Pricing Leverages Feature Tiers and Usage Meters
“They tend to have two axes on their pricing levers. They've got like a feature tier. So this is like, you know, small, medium, large sort of thing, right? It's like, here's a small bucket of features, a medium bucket of features and a large bucket of features.…”
Foster: Zapier sends weekly new apps email to 1M+ subscribers
“So the way we do this is we have a Wednesday, every Wednesday we send out a what's new on Zapier piece. And this is something our users love getting because they love learning about new apps. It's to their advantage. They want this. And so if you have somethin…”